đââď¸ Coinbase Claims the SEC is Trying to Destroy Crypto
Coinbase urged an appeals court to compel the SEC to establish specific rules for cryptocurrency, arguing in a 36-page closing brief that the commission's current approach traps crypto firms in a "Catch-22." Coinbase accused the SEC of demanding compliance while simultaneously engaging in aggressive litigation against firms and refusing to set clear regulations.
Coinbase described this as a deliberate attempt to undermine crypto by enforcing unattainable standards. The exchange disputed the SEC's claim that its position on digital assets is consistent, noting the agency's reliance on vague statements. Despite years of requesting regulatory clarity, including a formal petition in July 2022, Coinbase argued the SEC's existing regulations are unsuitable.